Nordea Investment Management AB Increases Stock Holdings in Texas Pacific Land Corporation $TPL

Nordea Investment Management AB grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 200.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,024 shares of the financial services provider’s stock after buying an additional 2,018 shares during the period. Nordea Investment Management AB’s holdings in Texas Pacific Land were worth $873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPL. Sandbox Financial Partners LLC lifted its holdings in Texas Pacific Land by 173.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 6,669 shares of the financial services provider’s stock valued at $1,915,000 after acquiring an additional 4,228 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 69 shares during the period. Harbor Investment Advisory LLC acquired a new stake in Texas Pacific Land during the fourth quarter worth $52,000. Next Level Private LLC increased its stake in Texas Pacific Land by 200.0% during the fourth quarter. Next Level Private LLC now owns 900 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 600 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its position in Texas Pacific Land by 201.0% in the fourth quarter. Gilbert & Cook Inc. now owns 7,926 shares of the financial services provider’s stock valued at $2,277,000 after purchasing an additional 5,293 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 1.8%

Shares of NYSE:TPL opened at $513.11 on Friday. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The company’s 50 day moving average is $452.74 and its two-hundred day moving average is $357.28. The company has a market cap of $35.38 billion, a PE ratio of 73.55 and a beta of 0.83.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. The business had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 34.38%.

Insider Activity

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, with a total value of $456,852.75. Following the transaction, the director owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. KeyCorp lifted their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Texas Pacific Land presently has an average rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.